OREANDA-NEWS. August 01, 2013. Krasnodar Regional Arbitration Court confirmed legitimacy of the decision issued by the Office of the Federal Antimonopoly Service in the Krasnodar Region (Krasnodar OFAS Russia) in 2011 that “Lukoil-Yugnefteproduct” Ltd. and “NK Rosneft – Kubannefteproduct” OJSC had exercised concerted actions (in breach of Article 11 of the Federal Law “On Protection of Competition”).

Concerted actions by the oil companies resulted in fixing and maintaining retail prices for oil products in Sochi. Prices were increased by 1.50 Rub / l, making the price level higher than in other towns across the region.

“Lukoil-Yugnefteproduct” Ltd. and “NK Rosneft – Kubannefteproduct” OJSC disagreed with the decision of Krasnodar OFAS Russia and filed a lawsuit. Krasnodar Regional Arbitration Court, however, confirmed legitimacy of the actions of Krasnodar OFAS Russia.